Ex-TCI founder Degorce’s Theleme heads for $1.2bn soft-close level after a robust start
Thu Mar 24, 2011
Patrick Degorce and his colleagues have had a successful first year, with performance and asset-raising both in line with target after 15 months
TCI co-founder Patrick Degorce has produced a strong start with
his new Theleme Partners firm - with assets in the global
long/short equity fund heading towards the soft-close level of
$1.2 billion and with performance so far also bang in line with
target after 15 months.
The Theleme fund has a permanent hard-cap level for external
capital of $2 billion and assets are already at around $900
million. The firm's principals expect to soft-close in the next
quarter - and the remaining $800 million of capacity will then
be reserved solely for existing investors to scale up their
Performance has been sure-footed in a very volatile global
equity environment - with the fund annualising at around 15%
since its inception in December 2009, in line with its
long-term target of 15% net annual returns, earning a EuroHedge
Award nomination for its performance in 2010.
Much of the money...
ISSN: 2151-1845 / CDC10004H
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